So, you’ve filed your return before the due date? Great!But have you verified your return? If not, then do it now because not verifying your Income Tax Return (ITR) is as good as not filing ITR because further processing of the same cannot be done by the IT Department. You can verify your ITR both manually (sending ITR-V to CPC Bangalore) and electronically (E-Verification)How’s it done manually?When you file your ITR, you receive ITR-V on your registered email. To manually verify, you need to send your ITR-V to CPC BangaloreSEE DETAILS

Have you ever been petrified at the sight of an income tax notice in your name!! It will come as a relief to you that not all notices are meant to scare you. There is a reason for every notice to be issued by the income tax department (“department”). Some notices give you information [like an intimation under section 143(1)], some warrant information from your end [inquiry under 142(1)]and some communicate that an audit is required by the tax department with respect to the income position declared in your incomeSEE DETAILS

Off lately, the Income Tax Department has been issuing a huge number of Income Tax Notices to the taxpayers owing to the digitalization of the process of income tax return filing and payment of tax. The data processing has become easy and fast, and even a slight mistake in your return can fetch you an Income Tax Notice. But, don’t freak out, everything has a solution!When you receive an Income Tax Notice, the first thing to be taken care of is that the notice is in your name and PAN.SEE DETAILS

Are you the one who works really hard but then something at the end doesn’t really works out? The one who wants everything to be just perfect but in the end forgets something? If you mess up each time, and this time it’s about taxes, you are at the right place! If you haven’t filed your itr in time this year, remember it’s never too late to do what you should. *Hopes Alive*Technically, as per the Income Tax Law, a person whose income exceeds the prescribed basic exemption limit, isSEE DETAILS

  1. When and how taxability arises under this head? If you sell any specified asset to another person, then the profits arising from such sale are taxable under this head.  Some of the specified assets can be outlined as below: Property [e.g. House, plot, building etc.] Jewellery, archaeological collections, drawings, paintings, sculptures & any work of art Agricultural land situated in urban area Shares and securities Stock is not covered under the list of assets. So don’t worry; no capital gains arise on transfer of stock-in-trade. There are differentSEE DETAILS